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Key Takeaways (AI-Generated)
Financial Performance
- Record Q3 2025 revenue of $155 million, up 48% year-over-year at guidance high end
- GAAP gross margin 37%, non-GAAP 41.9%, both exceeding guidance expectations
- Space Systems $114.2 million (16.7% sequential growth), Launch Services $40.9 million (12.3% decline)
- Total backlog $1.1 billion with 57% converting within 12 months
Business Highlights
- Signed 17 new Electron launch contracts, mostly wit...
Financial Performance
- Record Q3 2025 revenue of $155 million, up 48% year-over-year at guidance high end
- GAAP gross margin 37%, non-GAAP 41.9%, both exceeding guidance expectations
- Space Systems $114.2 million (16.7% sequential growth), Launch Services $40.9 million (12.3% decline)
- Total backlog $1.1 billion with 57% converting within 12 months
Business Highlights
- Signed 17 new Electron launch contracts, mostly wit...
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$Opendoor Technologies (OPEN.US)$ 💥——This is actually one of the biggest strategic highlights of Opendoor's “Warrant shareholder dividend” design in this instance,
which has a significant impact on short sellers, and could even be described as a "fatal structural blow."
Let’s break it down layer by layer👇
⸻
🧩 1. First, let's examine the mechanism: this Warrant dividend is a combination of "shareholder dividends + short squeeze trap".
The announcement explicitly states:
Each registered shareholder holding 30 shares of OPEN common stock will be issued a set of three warrants (Series K / A / Z, with exercise prices of $9 / $13 / $17).
Record Date: November 18, 2025
Maturity Date: November 20, 2026
Warrants can be traded independently and are separable from the underlying shares.
In other words:
• Each "true shareholder" holding shares on the record date will receive a valuable and tradable Warrant;
• Short sellers are not eligible to receive these Warrants, but they are still required to maintain their short positions by borrowing shares as of the record date.
This leads to the core question👇
⸻
⚔️ II. Where Shorts Get Stuck: Record Date Mechanism (Record Date Trap)
Under the record date mechanism for 'dividend/warrant distribution':
• Shareholders registered on the record date (long holder...
which has a significant impact on short sellers, and could even be described as a "fatal structural blow."
Let’s break it down layer by layer👇
⸻
🧩 1. First, let's examine the mechanism: this Warrant dividend is a combination of "shareholder dividends + short squeeze trap".
The announcement explicitly states:
Each registered shareholder holding 30 shares of OPEN common stock will be issued a set of three warrants (Series K / A / Z, with exercise prices of $9 / $13 / $17).
Record Date: November 18, 2025
Maturity Date: November 20, 2026
Warrants can be traded independently and are separable from the underlying shares.
In other words:
• Each "true shareholder" holding shares on the record date will receive a valuable and tradable Warrant;
• Short sellers are not eligible to receive these Warrants, but they are still required to maintain their short positions by borrowing shares as of the record date.
This leads to the core question👇
⸻
⚔️ II. Where Shorts Get Stuck: Record Date Mechanism (Record Date Trap)
Under the record date mechanism for 'dividend/warrant distribution':
• Shareholders registered on the record date (long holder...
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$Opendoor Technologies (OPEN.US)$ I made money on multiple put options I bought for this stock.
Only the call options incurred losses.
Only the call options incurred losses.
Translated
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$Opendoor Technologies (OPEN.US)$
Massive news — $OPEN officially partners with Lennar Homes, with $8.8 BILLION in funding support.
This isn’t just a deal — it’s a vision for rebuilding America.
🏡 Lennar builds homes.
🚪 Opendoor helps families move seamlessly between homes.
🇺🇸 And President Trump’s housing initiative is about empowering every American family to own again.
This triangle — innovation, housing, and leadership — repre...
Massive news — $OPEN officially partners with Lennar Homes, with $8.8 BILLION in funding support.
This isn’t just a deal — it’s a vision for rebuilding America.
🏡 Lennar builds homes.
🚪 Opendoor helps families move seamlessly between homes.
🇺🇸 And President Trump’s housing initiative is about empowering every American family to own again.
This triangle — innovation, housing, and leadership — repre...
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